Barclays Wealth Management to open office in Kolkata soon

Kolkata, Oct 21 (UNI) Barclays Wealth Management will come up with an office in Kolkata during the current fiscal, company's chief executive officer (CEO) Satya Bansal said today.

Speaking on the sidelines of an interactive session, organised here by the Indian Chamber of Commerce(ICC), Mr Bansal said the firm had currently an office in Mumbai, adding similar units would also be set up in Bangalore and Delhi, during the same period.

''Kolkata is a very important wealth centre. We will be targeting high networth individuals(HNI) and ultra-HNIs. The branch office in Kolkata will also cater to the entire eastern region. We might look for setting up another one in Chennai too,'' Mr Bansal informed.

According to him, the company was supposed to have over 100 personnel at the end of the current financial year.

Quoting a report of a survey conducted by the firm, in association with the Economic Intelligence Unit, Mr Bansal said India was likely to have four lakh HNIs and ultra-HNIs by the year 2017 with an aggregate wealth of USD 1.7 trillion.

Meanwhile, Indian Council for Research International Economic Relation Director&CEO Rajeev Kumar said the country's GPD growth was likely to be under seven per cent at the end of the forthcoming fiscal.